Buy bitcoin with Faster Payments in the United Kingdom
- Status
- Legal
- Currency
- Pound sterling (GBP)
- Takes Faster Payments
- 3 exchanges
- Last reviewed
- 2026-08-12
3 of the exchanges we recommend in the United Kingdom take Faster Payments for funding bitcoin purchases. It is the rail local buyers lead with, so it is usually the cheapest and fastest way in.
What is Faster Payments?
Faster Payments is the United Kingdom's near real time sterling transfer scheme, operated by Pay.UK and regulated by the Payment Systems Regulator. Almost all internet and mobile banking payments between UK accounts run over it, which is why a pound deposit to an exchange normally arrives this way rather than by CHAPS. It moves money account to account using a sort code and account number, and it runs every day of the year including weekends and bank holidays.
- Speed
- Payments are processed in near real time and can be sent and received 24 hours a day, seven days a week, so a deposit usually lands within seconds.
- Cost
- UK banks do not charge personal current account customers for sending or receiving a Faster Payment, while business tariffs vary from bank to bank.
- Limits
- The scheme limit has been £1 million per payment since 10 February 2022, but each payment service provider sets its own lower ceiling within that, often far lower for app initiated payments.
Exchanges that take Faster Payments in the United Kingdom
Ranked as in our United Kingdom guide. Every payment method shown is verified for this exact exchange and country pairing.
- 1Kraken4.7
A 2011-vintage exchange with one of the cleanest security records in the business, heading toward a US stock listing.
- Fees
- Kraken Pro charges 0.25% maker and 0.40% taker below $10,000 in 30-day volume, falling from there. The simple Buy widget and card purchases include a spread and cost noticeably more.
- KYC
- Required
- Pay with
- Faster Payments, Debit card
On this pairing: 1.95 pounds each way
- 2Coinbase4.5
The easiest US on-ramp for beginners, publicly listed, and legally in the clear since the SEC dropped its case.
- Fees
- Simple buys layer a flat fee and a spread and are the expensive way in. Advanced Trade, in the same account, uses maker-taker pricing that falls with 30-day volume and costs a fraction of simple-buy rates.
- KYC
- Required
- Pay with
- Faster Payments, Debit card, Open banking payment
On this pairing: free
- 3CEX.IO4.0
A card-friendly exchange licensed across most of the US, but currently closed to deposits and trading in Europe.
- Fees
- Instant card buys carry a processing fee and a premium over the spot price; the spot exchange uses maker-taker pricing that falls with volume.
- KYC
- Required
- Pay with
- Faster Payments, Open banking payment, Debit card
On this pairing: withdrawals only; CEX.IO does not accept Faster Payments deposits
See the full how-to-buy guide for the United KingdomEverything about buying bitcoin with Faster Payments
Watch: how to choose an exchange
We have not filmed a walkthrough for the United Kingdom yet, so this is our general one, from our YouTube channel @dontgetrekt. It also sits on the home page, next to the country search it starts from.
Do you need a VPN?
A VPN hides which sites you visit from the network you are on and from your internet provider, which is worth having when you move money over a connection you do not control. It does not get you past an exchange's identity checks: every platform we list verifies who you are no matter where you connect from.
If you want one, the strongest records on our list belong to NordVPN (6 independent no-logs audits, the most of any service we review), Windscribe (its no-logs claim tested in the real world 3 times) and Proton VPN (the most audited service with a free tier).
Other ways to pay in the United Kingdom
Faster Payments in other countries
Guernsey
Isle of ManFrequently asked questions
Which exchanges accept Faster Payments in the United Kingdom?
Of the 4 exchanges we recommend in the United Kingdom, Kraken, Coinbase and CEX.IO accept Faster Payments for funding purchases. Worth knowing before you fund: Kraken, 1.95 pounds each way; Coinbase, free; CEX.IO, withdrawals only; CEX.IO does not accept Faster Payments deposits.
Is buying bitcoin with Faster Payments legal in the United Kingdom?
Bitcoin is fully legal in the United Kingdom. Crypto firms serving UK customers must register with the Financial Conduct Authority under the Money Laundering Regulations, and financial promotions rules in force since October 2023 govern how platforms market to consumers. The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, made in February 2026, will bring core crypto activities inside the FCA's authorisation perimeter from October 2027. HMRC treats disposals of bitcoin as capital gains events.
How long does a Faster Payments deposit take?
Payments are processed in near real time and can be sent and received 24 hours a day, seven days a week, so a deposit usually lands within seconds. That is the rail itself; an exchange may hold a first deposit for longer while it verifies your account.
What does it cost to buy bitcoin with Faster Payments?
UK banks do not charge personal current account customers for sending or receiving a Faster Payment, while business tariffs vary from bank to bank. Any fee the exchange adds on top is separate, and is shown per exchange above.